Depletion

This topic has 6 replies, 3 voices, and was last updated 11 years, 1 month ago by UCMCPA.

Creator

Topic
October 30, 2013 at 11:29 am #181402

Mars2010
Member

The material mentioned 2 methods for depletion, cost & percentage of depletion.

I need to know which one is required by the IRS, or anyone of them?

Thanks in advance.

Viewing 6 replies - 1 through 6 (of 6 total)

Author

Replies
October 30, 2013 at 1:18 pm #462981

Anonymous
Inactive

Percentage depletion is the tax method (it is also a preference item for AMT). Cost depletion is GAAP.

October 30, 2013 at 1:18 pm #463073

Anonymous
Inactive

Percentage depletion is the tax method (it is also a preference item for AMT). Cost depletion is GAAP.

October 31, 2013 at 7:05 pm #462983

Mars2010
Member

Thanks 🙂

October 31, 2013 at 7:05 pm #463075

Mars2010
Member

Thanks 🙂

October 31, 2013 at 7:43 pm #462985

UCMCPA
Member

MARS,

I'd start posting all your REG questions in the REG thread that is stickied at the top.

FAR - 84
AUD - 94
REG - 86
BEC - 86

October 31, 2013 at 7:43 pm #463077

UCMCPA
Member

MARS,

I'd start posting all your REG questions in the REG thread that is stickied at the top.

FAR - 84
AUD - 94
REG - 86
BEC - 86
Author

Replies

Viewing 6 replies - 1 through 6 (of 6 total)

The topic ‘Depletion’ is closed to new replies.